Manage Payables

Our disbursement/payable services employ both electronic and traditional disbursement methods that allow you to distribute your funds quickly, predictably, and cost-effectively.

Automated Clearing House (ACH)
ACH is an ideal way to transfer funds from your accounts. It’s a good tool for businesses that want to increase control over the disbursement process and reduce expenses associated with disbursements. Use ACH credits to disburse various types of payment, including payroll, expenses, taxes, dividends, and retirement benefits – with payment automatically credited to your payees’ accounts on a pre-established date. It reduces the cost of cutting, mailing, and tracking paper checks.

Zero Balance Accounting
Improve productivity and control by concentrating your funds into a single account while benefiting from the flexibility of multiple disbursement/collection accounts. Many companies use multiple disbursement accounts for accounting purposes and audit control. It eliminates forecasting and funding guesswork of disbursement accounts as well as idle balances.

Wire Transfers
Initiate domestic and international wire transfers quickly and easily using Business Internet Banking.

Check Reconciliation with Positive Pay
Reduce the time you spend manually sorting and tracking checks. Our automated Account Reconciliation service lists paid and/or outstanding items in numerical order and provides useful audit trails and detailed report options. The Positive Pay feature can reduce your company’s exposure to fraud or stolen checks.

 

To learn more about our disbursement services, please call (213) 687-1370 or your local Far East National Bank branch.